“In order to maximise growth opportunities, we are continuously analysing our portfolio and sharpening our focus to accelerate investments on the best performing categories and products”, the company said at the time.

In a stock exchange filing, Parag Milk Foods said the acquisition would bolster its footprint in northern India, as well as making it “the largest player in private dairy sector in India involved in the manufacturing, marketing and distribution of dairy products produced exclusively from pure and fresh cow’s milk”.

Commenting on the acquisition, Parag Milk Foods chairman Devendra Shah said,:“North India is one of the key markets for Parag Milk Foods. Given that dairy products hold a large space in many households here, consumption of milk and milk products is the highest in this region. The acquisition of the manufacturing facility of Danone will strengthen our product offerings and leverage our strength in distribution of various products”.